Business Line Of Credit
What Could a Business Line of Credit Do for Your Company?
Most businesses today need to borrow money at some point. Doing so helps ensure you have the money you need on hand to meet obligations, expand, and purchase inventory. Yet, you may not be too sure what type of business funding is right for your unique needs. Is a business line of credit the right option? At Olympus Business Funding, we connect you to a wide range of options and help you to find the loans that fit your goals. Take a look at what our finance company can do for you.
Business line of credit options are available
Many times, our clients benefit from a business line of credit. You apply. We give you a line of credit up to a certain amount. You can use as much or as little of that credit as you would like to over the course of the draw period. That means you can borrow, pay back, and borrow more money again. This type of loan is best for those business owners who want to have the flexibility of having a cash backup for those times of slow sales or for emergency needs. It is an affordable way to always have the funds you need available but not over-borrow if you do not need to do so.
With this type of loan, you can borrow up to the maximum credit limit on the line. Then, you will pay only interest on the amount of capital that you borrow. You do not have to pay interest on the total maximum loan value unless you borrow it all. This helps you to save money in the long term, too.
Merchant cash advance options are available, too
At Olympus Business Funding, our New York, NY business also offers a merchant cash advance. Here, we provide you with a lump sum of money for you to use in just about any way you need to. Then, you pay it back with a portion of your sales. This way, you are only making payments as your sales occur, reducing the amount you have to pay back in slower times. With a lump sum payment from the merchant cash advance, you can use those funds to grow your company or to help backstop a shortage of cash without having to have a large payment hanging over your head.
Which is right for you?
Turn to your finance company at Olympus Business Funding for immediate help. Let us help you determine if a line of credit or a merchant cash advance may be the right choice for your needs. Our finance company is here to help you with the entire borrowing process